Mortages
When buying an off plan property it is possible that the developer will offer you a mortgage for your property with favourable terms and conditions.
However, there are alternative ways of financing your purchase, such as;
* An alternative Spanish mortgage with a different bank/lender
* A UK mortgage
* An equity release on your UK property
Your sales representative will be able to introduce you to an experienced mortgage adviser that can assist you with your decision and ensure that you choose the most suitable form of financing, taking into consideration various factors including your personal circumstances, your age, the deposit you have available, the amount of capital you need to raise etc.
The terms and conditions of mortgages differ depending on the specific lender. However, all lenders will require some form of proof of income (P60, Annual accounts, copies of Income tax returns etc.) and a deposit varying from 10% to 40% of the value of the property.